The document discusses performing a financial health check on an owners corporation (OC) to assess if it is financially viable and properly managed. It provides questions that should be asked about the OC's budgets, expenses, savings plans, defect repairs, levy collection and arrears, taxes, and signs of good financial governance. Key areas examined include if expenses are in line with budgets, sinking funds are being collected and spent as planned, levy collection rates are reasonable, and potential hidden tax liabilities exist.